Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

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Cross Asset Strategy

<ul><li>Railway / In Depth: China’s soaring overland trade accelerates cross-border rail projects</li><li>China-Japan /: Japan’s Ambassador to China sees a lot potential for economic cooperation</li><li>Stocks /: Foreign investor enthusiasm for Chinese stocks is on the up</li></ul>

Railway / In Depth: China’s soaring overland trade accelerates cross-border rail projectsChina-Japan /: Japan’s Ambassador to China sees a lot potential for economic cooperationStocks /: Foreign investor enthusiasm for Chinese stocks is on the up

CX Daily: China’s Soaring Overland Trade Accelerates Cross-Border Rail Projects 

Thematic (Sector/Industry)

<ul>
<li>The European Commission has given final approval to extra import tariffs on electric vehicles (EV) shipped from China, after an investigation concluded that state subsidies are enabling Chinese automakers to unfairly undercut their European rivals.</li>
<li>In a statement on Tuesday, the commission said that it has fixed the definitive countervailing duties, which will range from a 7.8% levy for Tesla Inc. cars manufactured in China to up to 35.3% for vehicles made by state-owned SAIC Motor Corp.</li>
<li>The tariffs — which only apply to battery EVs, also known as “pure” EVs — will be in place for five years and will be levied in addition to the EU’s existing import duties of 10% for cars.</li>
</ul>


The European Commission has given final approval to extra import tariffs on electric vehicles (EV) shipped from China, after an investigation concluded that state subsidies are enabling Chinese automakers to unfairly undercut their European rivals.
In a statement on Tuesday, the commission said that it has fixed the definitive countervailing duties, which will range from a 7.8% levy for Tesla Inc. cars manufactured in China to up to 35.3% for vehicles made by state-owned SAIC Motor Corp.
The tariffs — which only apply to battery EVs, also known as “pure” EVs — will be in place for five years and will be levied in addition to the EU’s existing import duties of 10% for cars.


EU Tariffs on Chinese EV Imports Get Final Nod 

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

<ul><li>Eleven Chinese automakers including BYD, Great Wall, NIO, Xpeng, Li Auto, Zeekr, Aion, Deepal, Neta, Leap and Aito reported their Nov 2023 sales volumes on 1 Dec 2023.</li><li>Sales volume of the 11 automakers combined rose 49% YoY (ranging from -17% to +245%) and 2% MoM (ranging from -1% to +48%) in Nov.</li><li>Seven out of the 11 automakers posted their all-time high sales volume in Nov.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Eleven Chinese automakers including BYD, Great Wall, NIO, Xpeng, Li Auto, Zeekr, Aion, Deepal, Neta, Leap and Aito reported their Nov 2023 sales volumes on 1 Dec 2023.Sales volume of the 11 automakers combined rose 49% YoY (ranging from -17% to +245%) and 2% MoM (ranging from -1% to +48%) in Nov.Seven out of the 11 automakers posted their all-time high sales volume in Nov.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Auto Sector – NEV Sales Volume MoM Growth Narrowed in Nov

<ul><li>After a strong sales beat in 2023, we expect China’s passenger-vehicle (PV) sales growth to be moderate in 2024E.</li><li>While it is still difficult to identify long-term winner in China’s auto industry, competition, overseas expansion and technological advancement would still be the key topics for 2024.</li><li>Exports, Chinese brands’ market share gain and competition still key topics.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

After a strong sales beat in 2023, we expect China’s passenger-vehicle (PV) sales growth to be moderate in 2024E.While it is still difficult to identify long-term winner in China’s auto industry, competition, overseas expansion and technological advancement would still be the key topics for 2024.Exports, Chinese brands’ market share gain and competition still key topics.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Auto Sector – Competition Pushes Technological Advancement, Overseas Expansion

<ul><li>We summarize the Oct 2023 leading indicators as below, including number of leads, customer flows, and new orders generated, for Tesla, NIO, Li Auto, Xpeng, BYD and Aion.</li><li>Note that such data are based on a sample size of 96 stores (15- 18 stores for each brand) in 15 major cities in China.</li><li>In general, new orders per store for most brands have been rising MoM since Apr 2023, which have been consistent with our prior projection that NEV market share in China could rise sequentially for the remainder of the year. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We summarize the Oct 2023 leading indicators as below, including number of leads, customer flows, and new orders generated, for Tesla, NIO, Li Auto, Xpeng, BYD and Aion.Note that such data are based on a sample size of 96 stores (15- 18 stores for each brand) in 15 major cities in China.In general, new orders per store for most brands have been rising MoM since Apr 2023, which have been consistent with our prior projection that NEV market share in China could rise sequentially for the remainder of the year. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Auto Sector – Improving Leading Indicators Imply Strong 4Q23

China

XPeng Inc. designs, produces, and distributes electric vehicles. The Company designs, develops, manufactures and markets smart smart electric vehicles, as well as finance, parts, and maintenance services. XPeng serves customers in China.

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XPeng (XPEV US)

CX Daily: China’s Soaring Overland Trade Accelerates Cross-Border Rail Projects

TOP STORIES Railway / In Depth: China’s soaring overland trade accelerates cross-border rail projects Cross-border railway projects connecting...

Caixin Global

EU Tariffs on Chinese EV Imports Get Final Nod

The European Commission has given final approval to extra import tariffs on electric vehicles (EV) shipped from China, after an investigation...

Caixin Global

China Auto Sector – NEV Sales Volume MoM Growth Narrowed in Nov

Eleven Chinese automakers including BYD, Great Wall, NIO, Xpeng, Li Auto, Zeekr, Aion, Deepal, Neta, Leap and Aito reported their Nov 2023 sales...

CMB International

China Auto Sector – Competition Pushes Technological Advancement, Overseas Expansion

While it is still difficult to identify long-term winner in China’s auto industry, competition, overseas expansion and technological advancement...

CMB International

China Auto Sector – Improving Leading Indicators Imply Strong 4Q23

We summarize the Oct 2023 leading indicators as below, including number of leads, customer flows, and new orders generated, for Tesla, NIO, Li...

CMB International

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